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09/02/11

Iran oil exports up by 50,000 barrels per day

Source: Press TV

Iran's oil exports have increased by 50,000 barrels per day since the beginning of the current Iranian calendar year (startied March 21), says an Iranian oil official.

Azadegan oilfield
A file photo of the Azadegan oilfield

Managing Director of National Iranian Oil Company Ahmad Qalebani said, "Currently, oil production in the Masjid Soleiman oilfield has been increased and Iran's total crude production will increase by 40-50 thousand barrels per day by the end of the year," IRNA reported on Friday.

Early production from Yadavaran and Azadegan oilfields will also contribute to the increase in the country's oil output, Qalebani added.

The official added that more than 60 percent of the necessary equipment for the oil industry is produced domestically and this will reach 90 percent within the next three years.

Last week, Qalebani said Iran's crude output capacity would rise by 150 thousand barrels per day with the launch of six new projects this year.

The Islamic Republic of Iran has the world's second largest crude reserves after Saudi Arabia and the second largest gas reserves after Russia.

Iran oil gets USD 18bn in investment

Iran's Deputy Oil Minister Ahmad Qalebani says Iran's oil industries attracted around USD 18 billion of investment in the last Iranian calendar year (ended March 20).

Iran's South Pars gas field
Iran's South Pars gas field

Qalebani said the Oil Ministry plans to increase the figure to USD 25 billion this year, SHANA reported on Tuesday.

The official further expressed satisfaction with the investments and pointed out, "About USD 5.2 billion have been invested in the South Pars (gas field) during the past few months."

The South Pars gas field is located in the Persian Gulf in the border zone between Iran and Qatar.

Qalebani also confirmed the resumption of oil swap operations with the Caspian Sea littoral states and said the volume of Iran's oil swap has reached 300,000 barrels since the beginning of the Iranian calendar month of Mordad (July 23).

The same volume will be sent to the country's southern terminals in 90 days, he added.

Related Article: Exclusive: China curbs Iran energy work

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